From restaurant chains to movie theaters, airlines to publishers, nearly all major industries are feeling the financial impacts of the coronavirus pandemic. With major companies losing major money, many CEOs are stepping up and sacrificing their own salaries to keep their companies afloat. It’s worth noting that many of these salary cuts only affect executive base pay and do not include bonuses, stock options and other compensation.
Guess officially furloughed all U.S. and Canada store employees on April 2; it also furloughed roughly 50% of its corporate employees, Footwear News reported. Salaries were cut for all management positions, beginning at 15% for lower-level managers and going up to a 70% cut for CEO Carlos Alberini and chief creative officer Paul Marciano.
“These are some of the most difficult decisions our company has had to make in our entire four-decade history. And while many of these decisions have proven very challenging, … Read More